Canadian police and intelligence agencies say they have arrested two men and thwarted a plot to carry out a major terrorist attack on a Via passenger train in the Greater Toronto Area.

The two accused are Chiheb Esseghaier, 30, of Montreal and Raed Jaser, 35, from Toronto. They have been charged with conspiracy to carry out a terrorist attack and "conspiring to murder persons unknownn for the benefit of, at the direction of, or in association with a terrorist group."
The RCMP accuses the two men of conspiring to commit "al-Qaeda-supported attack" against a Via passenger train.

In a statement, RCMP said while they believe the individuals accused had the "capacity and intent" to carry out an attack, they believed there was "no imminent threat" to the public, rail employees, train passengers or infrastructure.

The two men are expected to appear at Old City Hall courthouse in Toronto tomorrow.

Had this plot been carried out, it would have resulted in innocent people being killed or seriously injured, RCMP assistant Commissioner Jammies Malizia told reporters on Monday.

Highly placed sources tell CBC News the alleged plotters have been under surveillance for more than a year in Quebec and southern Ontario.

RCMP are holding a LIVE update on the plot investigation at 3:30 p.m. ET

The investigation was part of a cross-border operation involving Canadian law enforcement agencies, the FBI and the U.S. Department of Homeland Security.

According to a Reuters report, U.S. law enforcement and national security sources said the alleged plot targeted a railroad between Toronto and New York City.

The arrests Monday morning were co-ordinated and executed by a special joint task force of RCMP and CSIS anti-terrorism units, combined with provincial and municipal police forces in Ontario and Quebec.

The RCMP are expected to hold a press conference Monday afternoon to announce the arrests and provide details of the alleged plot, and give an overview of the extensive police and intelligence operation.

Law enforcement officials say the terror suspects arrested today have no connection to the two brothers accused of last week's Boston Marathon bombings.

They also say there is no tie to the former London, Ont., high school friends who joined al-Qaeda and died earlier this year while helping to stage a bloody attack on an Algerian gas refinery.